Annis Gardner Whiting Capital Advisors LLC Sells 13,714 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Annis Gardner Whiting Capital Advisors LLC significantly reduced its stake in Citigroup by 53.7%, selling 13,714 shares and ending with 11,841 shares valued at $841,000.
• Citigroup's recent quarterly earnings surpassed expectations, reporting $1.96 EPS compared to estimates of $1.61, with revenues of $21.67 billion.
• The company declared a quarterly dividend of $0.60 per share, up from $0.56, equating to an annualized yield of 2.6%.

Annis Gardner Whiting Capital Advisors LLC reduced its holdings in Citigroup Inc. (NYSE:C - Free Report) by 53.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,841 shares of the company's stock after selling 13,714 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC's holdings in Citigroup were worth $841,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in C. Price T Rowe Associates Inc. MD lifted its stake in Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the period. Capital World Investors raised its stake in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. Northern Trust Corp raised its stake in shares of Citigroup by 13.9% in the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after acquiring an additional 2,467,958 shares during the last quarter. Invesco Ltd. raised its stake in shares of Citigroup by 13.8% in the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after acquiring an additional 1,970,300 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Citigroup by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company's stock valued at $947,082,000 after acquiring an additional 46,646 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup Price Performance

Citigroup stock traded down $0.92 during midday trading on Thursday, reaching $91.31. 12,938,981 shares of the stock were exchanged, compared to its average volume of 16,932,436. The company's fifty day moving average is $85.72 and its 200-day moving average is $77.33. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market cap of $170.54 billion, a PE ratio of 13.49, a PEG ratio of 0.79 and a beta of 1.38. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's dividend payout ratio is currently 35.45%.

Analyst Ratings Changes

C has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. UBS Group restated a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Truist Financial upped their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Oppenheimer upped their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $96.54.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.